Deloitte judged backdated papers 'adequate', BBC says. $672m of Abramovich's assets left the books.
Panorama, an investigative programme of the BBC, Britain's public broadcaster, and the Bureau of Investigative Journalism reported on 12 October that Deloitte Cyprus reviewed backdated transfer papers for Amiscan Investments, a…
Panorama, an investigative programme of the BBC, Britain's public broadcaster, and the Bureau of Investigative Journalism reported on 12 October that Deloitte Cyprus reviewed backdated transfer papers for Amiscan Investments, a company of Roman Abramovich, and judged them "adequate". When Deloitte signed off the company's 2003 accounts in 2006, assets worth $672m, including superyachts and jets, were no longer recorded in them.
Citing leaked papers, they say over 1,000 records of his companies were backdated between 1999 and 2013 by Deloitte Cyprus and MeritServus, a firm Deloitte owned until 2005.
Deloitte Cyprus said it "acts in compliance with applicable laws" and could not comment on papers over 20 years old. Abramovich's lawyers deny any knowledge of unlawful backdating and say he relied on advisers.
Cyprus brought in a transparency law in 2006 that could have exposed the assets, the BBC reports. The papers moving them carried a 2003 date; the sign-off came in 2006. The date on a paper and the day it was drawn up are two different facts.
Auditors, what evidence from 2003 would you need before signing off a transfer dated then?
Sources
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